Overture Signs Expanded Deal With MSN
Pay-For-Performance Search Agreement for MSN Search Strengthens Existing Search Relationship
PASADENA, Calif., Feb 12, 2002 -- Overture Services Inc. (Nasdaq: OVER), the world`s leading provider of Pay-For-Performance search to Web sites across the Internet, today announced that it has signed an agreement through at least 2003 to provide its search results to MSN. Overture will distribute its high-quality Pay-For-Performance search listings on MSN Search.
Under the agreement, MSN`s search results pages will feature Overture`s top three Pay-For-Performance search listings submitted by its growing base of advertisers under the heading "Sponsored Sites." The agreement builds upon an existing relationship between Overture and MSN, under which Overture provides its search results to users of MSN Search from the Microsoft Internet Explorer search pane.
"We carefully considered the inclusion of Overture`s Pay-For-Performance search results on MSN Search and concluded that their high-quality results will allow us to create a win-win-win experience for users, advertisers, and search results providers," said Bill Bliss, general manager of search and navigation services, Microsoft. "In evaluating whether to create this product ourselves or choose another paid search provider, Overture`s product quality and focus on supporting its partners` long-term needs made it a compelling proposition."
Overture`s award-winning listings are generated by Overture`s advertisers who bid for placement on keywords relevant to their business. Overture`s 100-person product quality team carefully screens these listings before they are distributed to the company`s affiliate partner network, comprising many of the Internet`s most popular destinations.
"MSN`s search product provides highly useful results through the integration of best-in-class search providers and an outstanding editorial team," said John Gentry, senior vice president and general manager, affiliate business group, Overture. "MSN has been a tremendous partner to work with and we look forward to supporting them as they continue to evolve their search product."
About Overture
Overture, formerly known as GoTo, is the world`s leader in Pay-For-Performance search on the Internet. The company created the market for Pay-For-Performance search by redefining how businesses market online. In the third quarter of 2001, Overture facilitated more than 338 million paid introductions on a worldwide basis between consumers and its approximately 49,000 advertisers, who bid for placement on relevant search results and pay Overture only when a consumer clicks on their listing. Following a rigorous screening for user relevance by Overture`s 100-person product quality team, the company distributes its search results to tens of thousands of sites across the Internet, including America Online, Microsoft and Yahoo!, making it the largest Pay-For-Performance search network on the Internet. Overture is based in Pasadena, California, with offices in New York, San Francisco, Munich, London and Ireland. For more information, visit www.overture.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include without limitation statements that MSN`s users will continue to use Overture search results, that advertisers and businesses will want to participate in Overture`s search results that appear on MSN by seeking enhanced placement in the search results. These forward-looking statements are subject to risks and uncertainties that could cause actual results and events to differ materially. These risks and uncertainties include, among others, that the implementation may not be successful or generate revenue for Overture or yield economic benefits to Overture, the risk that Overture`s advertisers and businesses may not want traffic from MSN Search and the risk that users of MSN Search may not use Overture`s search results. For a discussion of other risks that could cause actual results or events to differ materially from such forward-looking statements, see the discussion of "Risks That Could Affect Our Financial Condition and Results of Operations" in Overture`s 10-Q filing with the SEC for the period ended September 30, 2001. Overture undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Note to Editors: Overture and Pay-For-Performance are servicemarks of Overture Services, Inc.
CONTACT:
Overture
Al Duncan, 626/685-5714 (Media)
al@overture.com
Laurie Berman, 626/229-5368 (Investors)
laurie.berman@overture.com
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